The Best Personal Loans with a Co-signer

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If you have fair credit or bad credit, don’t worry. You can get approved for a personal loan with a co-signer. Many lenders accept co-signers so you have a variety of options at your disposal. Fortunately, co-signer loans often come with fast applications and quick funding.

Compare Best Personal Loans with a Co-signer

What we researched
Fees can range from 0% to 5% or higher. We explored dozens of co-signer loan lenders to find the lowest fees.
Types of Loans
We looked at co-signer loans for a variety of uses, including debt consolidation, medical bills, and emergency expenses.
Our expert team researched and gathered reviews for the top lenders and used them to see where lenders shine and what they can do to improve.
We found the best offers for a number of situations.
We reviewed the most up-to-date interest rates based on factors like credit score and income to find the most competitive options.
We looked for personal loans with co-signers that come with minimal restrictions and can be accessed by most borrowers.

How We Found the Best Loans for Co-signers: Our Methodology

We analyzed over 20 lenders and personal loans to find the top ones based on consumers’ most pressing loan needs and concerns including low income, bad or fair credit, loan amount, quick funding, debt consolidation, ease of application, and more.

Once we narrowed down the options, we analyzed the loans being offered and looked at over 10 data points, including credit score requirements, fees, accessibility, customer experience, APR rates, loan amounts, length of time to pay, the application process, and more. We picked the best personal loans by scoring loans based on those features.

But we don’t stop here. AmONE will continue to conduct spot-checks to ensure the most recent loan information is included here and update our list annually.

Top Personal Loan with Co-signer Lenders

OneMain: Best for small loan amounts

Why it’s the best: Since OneMain’s minimum loan amount is $1,500, it’s ideal if you only have a small expense to cover and don’t want to overborrow.

Loan amount: $1,500 to $20,000

Availability and restrictions: Not available in Arkansas, Alaska, Connecticut, Massachusetts, Rhode Island, or Vermont.

OneMain Pros & Cons

Read the OneMain Review

SoFi: Best for large loan amounts

Why it’s the best: Since SoFi loans go up to $100,000, they’re a solid pick if you have a large expense to cover like a new roof or a kitchen remodel.

Loan amount: $5,000 to $100,000

Availability and restrictions: Not available in Mississippi.

SoFi Pros & Cons

Read the SoFi Review

LendingClub: Best for quick approval

Why it’s the best: If you don’t want to wait long to get approved for a co-signer, you’ll be pleased to learn that LendingClub approves most members within 24 hours.

Loan amount: $1,000 to $40,000

Availability and restrictions: Not available in Iowa or the U.S. territories.

Lending Club Pros & Cons

Read the Lending Club Review

Upgrade: Best for longer payoff period

Why it’s the best: Upgrade’s repayment terms range from 2 to 7 years so you can take your time repaying your co-signer loan if you’d like.

Loan amount: $1,000 to $50,000

Availability and restrictions: Not available in Iowa, West Virginia and Washington, D.C.

Upgrade Pros & Cons

Read the Upgrade Review

Achieve: Best for low origination fee

Why it’s the best: While Achieve does charge an origination fee between 1.99% and 4.99% of the total loan amount for co-signer loans, it’s much lower than the origination fees you’ll likely find elsewhere.

Loan amount: $7,500 to $50,000

Availability and restrictions: Not available in Colorado, Connecticut, Hawaii, Kansas, New Hampshire, North Dakota, Oregon, Vermont, West Virginia, Wisconsin or Wyoming.

Achieve Pros & Cons

Read the Achieve Review

How Does a Personal Loan with a Co-signer Work?

Interest rates and terms

If you apply for a personal loan with a co-signer, you may qualify for better interest rate and terms.

Since a co-signer agrees to step in and take care of the debt in the event you fail to make your payments, they reduce risk for the lender.

Income and credit score

While every lender is different, most of them look for co-signers with sufficient income and a minimum credit score of 670.

This provides reassurance that they’ll be able to repay the loan if it goes into default. It’s important to note that while a co-signer can help you secure a personal loan, there is risk involved.

Responsibility for repayment

When a friend or family member agrees to co-sign a loan, the loan will show up on both of your credit reports. Therefore, if you’re late on your payments, you could hurt their credit.

Also, if you fail to repay your loan and your co-signer becomes responsible for it, you could jeopardize your relationship with them.

How to Compare to Find the Best Loan

Not all personal loans with cosigners are created equal. That’s why it’s a good idea to shop around, compare your options, and keep these factors in mind.


The annual percentage rate or APR on a loan is the total cost you’ll pay to borrow money, including all fees. It’s expressed as a percentage and charged on top of your loan’s principal amount.

To determine your rate, lenders consider factors like your credit score, income, and debt-to-income ratio. If you don’t have the best credit, you can expect a higher APR. Fortunately, you may be able to lower it if you apply with a cosigner with strong credit.

Origination fees

Most personal loans with a co-signer come with origination fees, which are usually charged as a flat fee or as a percentage of the loan amount. These fees are often between 1% to 8% but might be more.

Some lenders will deduct the fee from your loan proceeds while others will add it to your loan balance. Keep in mind that even if you find a lender that doesn’t charge origination fees, you might have to pay a higher interest rate that will increase your overall loan cost.

Special features

In addition to rates and fees, you may want to look into extra features that make co-signer personal loans more enticing. These may be free credit score monitoring, repayment flexibility, automatic payments, mobile apps to help you manage your loan, and hardship assistance programs.

Repayment period and terms

Repayment options for co-signer personal loans vary from lender to lender. Some lenders offer terms as little as two years and as many as ten. Before you choose a repayment term, figure out how much you can comfortably afford to pay per month.

Also, think about whether your priority is lower payments or savings on interest. A longer term may make sense if you’d like to reduce your payments while a shorter term is ideal to cut your interest charges.

Funding time

If you have an emergency expense or can’t wait long for money, know that there are lenders that offer same day or next day funding. Some lenders, however, will take a few days or even a few weeks to deliver the funds. When exploring co-signer loans, consider how quickly you need the cash.

How to Get a Personal Loan with a Co-signer

Fortunately, it’s easy to take out a personal loan with a co-signer. If you follow these steps, you’re sure to find the best option for your unique budget and needs.

Step 1: Research and compare your options

Start by shopping around and looking at all your options for co-signer and joint application loans. When you do so, compare rates, terms, fees, and special features. Don’t forget to read customer reviews and check online ratings to ensure you choose a lender with a strong reputation.

Step 2: Check your credit score

Factors like your payment history, debt-to-income ratio, credit mix, and age of your credit accounts all make up your credit score. Since most lenders will pull your credit when reviewing your application, you should know where you stand and check your credit score. If your credit score isn’t as high as you’d like it to be, you may still get approved, as long as your co-signer has sufficient income and solid credit.

Step 3: Look for the best rates

Interest rates on personal loans with a co-signer typically range from 4.49% to about 35.99%. Your credit score and income as well as your co-signer’s finances may all play a role in your rate. A co-signer can help you qualify for lower rates than you’d be able to lock in on your own, potentially saving you hundreds or even thousands of dollars.

Step 4: Increase your chances of getting approved

Since there’s no guarantee you’ll get approved for a loan, even if you apply with a co-signer, you may want to take some steps to improve your position as a borrower. Increase your income, pay down debt, pay all your bills on time, and cancel newer credit cards with small limits that you don’t use often.

Step 5: Get preapproved

A preapproval is when a lender determines your eligibility for a co-signer personal loan without any impact to your credit. To get preapproved, all you have to do is provide some basic personal information and state how much you want to borrow. If you decide to move forward with a loan offer, you’ll need to fill out a formal application.

Step 6: Get organized

When you apply for a loan, lenders will ask you to submit several documents. In most cases, these include government-issued IDs like driver’s licenses or passports as well as financial documents, such as pay stubs, bank statements, and tax returns. It’s a good idea to gather your documents before you start the application process.

Step 7: Apply

These days, many lenders offer online applications. However, if you prefer to apply via phone or in-person, you may be able to as well, depending on the lender and your location. As you fill out the application, be sure you provide accurate information and all of the required documents. To avoid delays with approval and funding, double check your work.

Step 8: Reach out if you need help during the process

AmONE personal loan representatives are here to support you with your co-signer personal loan. If you need assistance with your application, have concerns about credit inquiries, or would like more details about a specific lender, we encourage you to give us a call at 888-401-0330.

Step 9: Make payments on time

By making on-time payments, you’ll build or improve your credit. If you’d like to save on interest and lower your debt, you may also want to repay your loan early. Just make sure your lender doesn’t charge a prepayment penalty. If you know you won’t be able to make a payment, let your lender know right away to learn about your options.

How AmONE Can Help You Find a Personal Loan with a Co-signer

There are many personal loans that allow co-signers. While this is a plus, it may also make it difficult to find the right loan for your unique situation. The good news is AmONE can simplify the process. Take advantage of our free service to get matched to the best co-signer loan for you.

Explore personal loans with a co-signer on your own or let us do the research. No matter which route you take, rest assured our friendly representatives will be by your side to help. We’re knowledgeable in co-signer loans and the lenders that offer them.

Personal Loans with a Co-signer Pros and Cons

Just like all financial products, personal loans with a co-signer offer benefits and drawbacks.

When deciding whether a co-signer personal loan makes sense for your situation, keep these pros and cons top of mind.


Frequently Asked Questions

What is the difference between a co-signer and a co-borrower?

The terms co-signer and co-borrower often get used interchangeably, but there are key differences between them. While a co-signer assumes financial responsibility for the loan if the primary borrower defaults on it, they don’t receive any direct benefits from the funds. A co-borrower, however, takes out the loan with someone else, usually for a shared purpose. Both borrowers have equal ownership of the loan funds and work together to repay it.

When is a co-signer a good idea?

There are certain situations in which a co-signer can be a good option. If you have an emergency expense, for example, and you can’t get approved for a loan on your own because of your credit, a co-signer may help. A co-signer should also be on your radar if you wish to consolidate high-interest credit card debt or you currently have a low income but expect it to increase in the near future.

When is a co-signer a bad idea?

When you take out a personal loan with a co-signer, the co-signer agrees to repay it if you fail to make your payments. Since a default can damage your relationship with them and ruin their credit, don’t use a co-signer if you know you won’t be able to pay back your loan. Also, if the loan proceeds will benefit you both, you may be better off with a co-borrower loan.

What are some tips for choosing a co-signer?

Almost anyone can be a co-signer, including a friend, family member, co-worker, and mentor. Ideally, you’d go with someone you can trust with sufficient income and solid credit. No matter who you choose, make sure they accept the fact that they’ll be liable for your loan if you default on it.

What is the minimum credit score for a cosigner?

Every lender has their own unique credit requirements for co-signer loans and there is no hard and fast minimum credit score. However, a cosigner will likely need credit in the good or excellent range. Most lenders look for cosigners with credit scores of 670 or higher.

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